Low Rates Mean Lower Incomes
Apropos the news item, ‘RBI Guv Hints at More Rate Cuts on Good Monsoon’ (Apr 16), Raghuram Rajan foresees lower inflation rates too. All thanks to the rain god. He should realise that as an impact of lower interest rates on fixed deposits, senior citizens, without any other source of income, see their incomes shrink. In fact, in view of the good monsoon forecast, the finance minister and the RBI governor should spare a thought for the troubled citizens of the country.